Are you a business owner actively promoting on social media? How are your ads faring? There are some companies that do extremely well in the digital sphere while some see a flop show. More often, the reason for this is not knowing how to set the perfect digital advertising costs or not knowing on which channel to promote.
Let’s dive into this topic further.
It is important that you set your budgets before advertising online. Keep your goal in mind and form your marketing strategy according to that. Pouring money on ads that don’t speak to your audience and don’t convert is useless to invest in.
Consider your budget while developing your online advertising strategy. Here is a quick walk through of the different marketing channels to help you get started.
More than a billion people use Facebook today. This is a huge platform for marketers to leverage. It doesn’t come as a surprise that Facebook is a popular online advertising platform.
Why Facebook Ads?
- Have Great Reach
- Show Effective Conversions
One can engage a quality audience through different types of ads and campaigns. Facebook ads work good for B2C business types.
Facebook ad pricing model:
For brands and businesses advertising on Facebook, they are allowed to set a daily or lifetime budget for their ads. When you’ve exhausted the budget, the ads are paused.
At any point, the brands have complete control over how much budget is added and allocated. They also have the flexibility of setting bids to control on how much the brand spends on getting the audience to perform certain important call to actions like signing up on a lead form, downloading an app, etc. This is an effective way to maximize your ad spend and save costs.
The costs per ad is not fixed but generally ranges from $0.09 cents to $2. CPC (Cost Per Click) depends on the competition from outside. It is an auction system where the advertiser bids for the best price.
If you are a small business and have a low budget, Facebook ads is a great way to reach your target audience.
Instagram was acquired by Facebook in 2012. Brands that have a great footprint visually can leverage this platform to take their business to the next level.
Engaging visuals and a marketing strategy can get you started with Instagram ads. This platform is best to attract the younger crowd, promote food and restaurant businesses. Influencer marketing plays a vital role in promoting your product or service via Instagram.
Instagram ad pricing model:
Instagram is synced to Facebook and so are the advertising platforms. It is easy for brands to launch campaigns on Facebook and Instagram simultaneously. Brands can set their ad budget daily or over the lifetime of the campaign. It follows the same type of auction system as Facebook.
You can promote your business for:
- Profile Visits
- Website Visits
- To Get Messages
Here are some factors to keep in mind before running ads.
- The average bid.
- If the ad is optimized and if the audience will take action.
- The relevancy score and the ad quality.
The ad that creates value to the user wins the minimum CPC.
Google is the world’s largest online ads platform. Brands use Google Ads to drive website traffic, increase store footfall or make the audience purchase products.
What are the types of Google ads? – Search Network, Display Ads and Video Ads.
1. Search Network Ads:
- This is triggered by a query or a keyword searched by a user.
- Users here are mainly looking for services and products.
- The ads are shown above the #1 ranking website making it more attractive for the user to click on.
2. Display Ads:
- These ads are shown when matched to relevant content of a keyword search or user interests.
- These are banner ads which appear on various sizes on blogs, Youtube videos, websites etc. This is very good for brand awareness and remarketing.
3. Video Ads:
- Display video ads on YouTube and Google Display Network. You can choose from skippable and non skippable ads, which can be used for brand awareness and narrowing your target audience respectively.
- The biggest advantage is you have control over who sees your ad.
Pricing types for Google Ads:
- CPA – Cost per acquisition is when you pay for every conversion that the ad leads to. This is best when you want to drive sales.
- CPM – Cost per thousand views is when you pay for every thousand views your ad gets. This is ideal for brand awareness campaigns.
- CPC – Cost per click is when you pay for every click on your ad. This is an ideal way of marketing to increase website traffic.
You can start your Google campaign with any budget at hand. All you have to do before starting an ad is have set goals in mind. The average cost of a Google Ad is anywhere from $1 – $2 per click. It depends on a lot of factors like geographical location, competition, quality score etc.
Did you know that ad campaigns on the search network use a PPC (Pay per click) model, meaning you pay each time a user clicks on the ad and now when they view it, which is its biggest advantage.
Generate qualified leads for your business today. Click here.
SEO or search engine optimization is a way of organically increasing website traffic. Brands try to rank high on search engines so they can get maximum visibility.
The core of SEO is to make the search network (Google, Bing etc) like your website and establish that your website has relevant and updated content. SEO is charged based on per-keyword-basis where your website will appear among the top 10 ranks based on the keyword you’re paying for.
If you club all of a company’s digital marketing efforts, SEO can take up about 50% of the digital marketing budget.
The cost of search engine optimization depends on the type of business, size of website and what they can afford.
SEO is great and almost a must for all business types. Though a slow process (minimum 3 months), this is a long term positive investment for your business.
If you are in the B2B sector, you might want to advertise on LinkedIn to garner attention.
LinkedIn is a platform for professional networking so there is a good chance your B2B business can thrive provided you market right.
Linkedin Ads Pricing:
- Marketing on LinkedIn depends upon your goal and competition.
- The cost per click ranges anywhere from $2 – $5 depending upon the click through rate.
- LinkedIn marketing is expensive but the targeting is spot on so much so that you can target specific companies, designations etc to promote your business to them.
Offering expert help with online advertising for your business
Now that you have an idea of the different advertising costs and practices of the major platforms, it is time for you to use these to elevate your business too.
We come with years of experience in the digital marketing sphere, tackling different types of businesses and we can help you plan your ad marketing strategy.
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